Comerica Bank Buys Shares of 1,635 Morningstar, Inc. (NASDAQ:MORN)

Share on StockTwits

Comerica Bank bought a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) in the first quarter, HoldingsChannel reports. The fund bought 1,635 shares of the business services provider’s stock, valued at approximately $210,000.

Several other institutional investors also recently added to or reduced their stakes in MORN. FMR LLC grew its position in shares of Morningstar by 57.2% during the 4th quarter. FMR LLC now owns 1,228,505 shares of the business services provider’s stock valued at $134,940,000 after acquiring an additional 447,111 shares during the period. Mawer Investment Management Ltd. bought a new position in shares of Morningstar during the 4th quarter valued at approximately $31,678,000. Norges Bank bought a new position in shares of Morningstar during the 4th quarter valued at approximately $31,613,000. Millennium Management LLC grew its position in shares of Morningstar by 123.6% during the 4th quarter. Millennium Management LLC now owns 101,398 shares of the business services provider’s stock valued at $11,138,000 after acquiring an additional 56,052 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Morningstar by 9.7% during the 1st quarter. Eagle Asset Management Inc. now owns 298,271 shares of the business services provider’s stock valued at $37,579,000 after acquiring an additional 26,470 shares during the period. 42.64% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Joseph D. Mansueto sold 21,530 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $119.63, for a total value of $2,575,633.90. Following the completion of the transaction, the insider now directly owns 22,310,842 shares of the company’s stock, valued at approximately $2,669,046,028.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph D. Mansueto sold 18,301 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $121.99, for a total transaction of $2,232,538.99. Following the completion of the transaction, the insider now directly owns 22,299,994 shares of the company’s stock, valued at $2,720,376,268.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,160 shares of company stock valued at $50,629,225. 54.10% of the stock is owned by insiders.

MORN opened at $148.32 on Thursday. The company has a market capitalization of $6.31 billion, a P/E ratio of 38.31 and a beta of 0.86. Morningstar, Inc. has a 12 month low of $99.67 and a 12 month high of $149.70. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.77 EPS for the quarter. The company had revenue of $258.90 million during the quarter. Morningstar had a net margin of 16.84% and a return on equity of 17.95%.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Wednesday, July 3rd.

Separately, BidaskClub raised shares of Morningstar from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 29th.

COPYRIGHT VIOLATION WARNING: This article was posted by Macon Daily and is owned by of Macon Daily. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://macondaily.com/2019/06/13/comerica-bank-buys-shares-of-1635-morningstar-inc-nasdaqmorn.html.

Morningstar Profile

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

Read More: Hedge Funds

Want to see what other hedge funds are holding MORN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morningstar, Inc. (NASDAQ:MORN).

Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

Receive News & Ratings for Morningstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morningstar and related companies with MarketBeat.com's FREE daily email newsletter.